The agency attributed stronger projection for 2020 to the upward impetus from better-than-anticipated second quarter GDP outturns (mostly in advanced economies) versus the downdraft from persistent social distancing and stalled reopenings in the second half of the year. In the first nine months of 2020 Vietnam’s GDP growth was estimated at 212%, the lowest 9-month growth rate in the past 10 years amid the Covid-19 crisis, according to official data. The IMF expected global growth to reach 5.2% in 2021, or 0.2 percentage points lower than its forecast in June. 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Meanwhile, the global economy is projected to contract 4.4% in 202008 percentage points above IMF’s forecast in June. Direct access to our calendar releases and historical data. GDP From Construction in Vietnam averaged 98771.52 VND Billion from 2013 until 2020, reaching an all time high of 244890 VND Billion in the fourth quarter of 2019 and a record low of 24018 VND Billion in the first quarter of 2013. For this year, the Vietnamese government targets economic growth of 2% in normal conditions and 2.5% if favorable factors emerge. The Gross Domestic Product (GDP) in Vietnam was worth 261.92 billion US dollars in 2019, according to official data from the World Bank and projections from Trading Economics. Manufacturing rose 7.12 percent, services advanced 3.27 percent and agriculture went up only 0.08 percent. In the first nine months of 2020, Vietnam’s GDP growth was estimated at 2.12%, the lowest 9-month growth rate in the past 10 years amid the Covid-19 crisis, according to official data. In the first nine months of 2020 Vietnam’s GDP growth was estimated at 212%, the lowest 9-month growth rate in the past 10 years amid the Covid-19 crisis, according to official data. Overall, ASEAN-5 economies are expected to contract by 3.4% in 2020, before expanding 6.2% in 2021. Notably, the IMF predicted the Philippines to have the biggest GDP decline this year among its regional peers, with a contraction of 8.3%, compared to a 3.6% decline projected in June. The market will struggle in the coming days as the third-quarter earnings season is near its end and investors will try to realise their profits following recent rallies. Pre-1965 period saw a rather rapid GDP growth rate of the South Vietnam's economy, accompanied by a reasonable CPI rise. The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds. Vietnam’s GDP growth this year can reach 2 – 3 percent, according to former director of the General Statistics Office (GSO) Nguyen Bich Lam. For this year, the Vietnamese government targets economic growth … With such a momentum, the IMF expected the world’s economy to strengthen gradually in 2021. For this year, the Vietnamese government targets economic growth of 2% in normal conditions and 2.5% if favorable factors emerge. Investment remained strong, industry and agriculture generally retained a high growth rate. Which enterprises - state-owned (SOE), state-invested, foreign-invested (FIE) or privately run - operate more effectively? This was the slowest GDP growth rate since the series began in 2000, hampered by the coronavirus pandemic and weaker global demand. The International Monetary Fund (IMF) has revised down its forecast for Vietnam’s GDP growth to 1.6% in 2020 from a previous estimate of 2.7% in June. In 2019, Vietnam’s economy continued to show fundamental strength and resilience, supported by robust domestic demand and export-oriented manufacturing. This was the slowest GDP growth rate since the series began in 2000, hampered by the coronavirus pandemic and weaker global demand. This was the slowest GDP growth rate since the second quarter of 2009, hampered by the coronavirus pandemic and weaker global demand. Publish your articles and forecasts in our website. The economy growth in the third quarter of this year, however, remains significantly lower than an expansion of 7.31 percent recorded at the same period last year, before the pandemic. © Copyright 2015; VietReader - Breaking News, Latest World News Updates, Vietnam is among rare economies to have maintained positive growth in 2020, Vietnam among the few economies to have positive growth in 2020: IMF, IMF: Vietnam’s GDP predicted to exceed Singapore’s this year, Vietnam GDP growth forecast in 2020 remains highest in Asia: IMF, ADB trims Vietnam’s 2020 growth forecast to 1.8% on pandemic, Vietnam GDP could top Singapore‚Äôs this year: IMF, Vietnam surpasses Singapore and Malaysia to become the 4th largest economy in Southeast Asia: IMF, Vietnam to become 4th largest economy in Southeast Asia: IMF, Vietnam recovery prospects brightest in Southeast Asia: ICAEW, Made-in-Vietnam Covid-19 vaccine tested on monkeys, “House of Choe” preserves Tay Nguyen's cultural values , Memorial for Nguyen Sinh Sac, the father of Ho Chi Minh, Visit to the memorial of the Hoa Lo prison, Vietravel Airlines licensed for air transport. For next year, IMF expected Malaysia to record the fastest growth with 7.8%, the Philippines to be in the second place with 7.4%, Vietnam in third with 6.7%, followed by Indonesia (6,1%) and Thailand (4%). More and more Vietnamese businesses can satisfy the requirements to export products to the EU, one of the world’s choosiest markets. In the first nine months of 2020, Vietnam’s GDP growth was estimated at 2.12%, the lowest 9-month growth rate in the past 10 years amid the Covid-19 crisis, according to official data. The GDP growth was driven mainly by agriculture, forestry and fisheries sectors (2.93 percent); industry and construction (2.95 percent) and service sector (2.75 percent). The GDP value of Vietnam represents 0.22 percent of the world economy. “The recovery is likely to be characterized by persistent social distancing until health risks are addressed—and countries may have to again tighten mitigation measures depending on the spread of the virus,” it said. Yet, in the past six years the growth in services outpaced significantly all other sectors, and today services account for 37 percent of GDP. Hanoitimes. The COVID-19 pandemic has worsened the shortage of cold storage space in HCM City and surrounding areas as goods pile up as a result of lack of demand. Forty-seven outward investment projects have an accumulated loss of $1.048 billion, according to the government’s report on the financial situation of state-owned enterprises (SOEs) and state-invested enterprises, submitted to the National Assembly. 2000-2020 Data | 2021-2022 Forecast | Calendar. GDP Growth Rate in 2017 was 6.81%, representing a change of 11,179,225,876 US$ over 2016, when Real GDP was $164,104,855,205. Vietnam, however, remains the only country among major economies in ASEAN – 5 (Thailand, Malaysia, Indonesia, the Philippines, and Vietnam) expected to deliver positive growth this year. The imported pork and declining meat consumption have pushed pork prices down, helping stabilise the consumer price index. With such a momentum, the IMF expected the world’s economy to strengthen gradually in 2021. Despite the slow recovery of retail property in the last quarters of the year, remarkable recovery is expected from 2021. In the first half of this year, the economy advanced 1.91 percent from a year earlier. The business community in Vietnam is waiting for clear legal documents on digitalisation development for them to perform better in the country. Vietnam's gross domestic product expanded by 6.97 percent year-on-year in the fourth quarter of 2019, following an upwardly revised 7.48 percent growth in the previous quarter. Download historical data for 20 million indicators using your browser. For this year, the Vietnamese government targets economic growth … For many people, the news that automobile manufacturers have paid high amounts of tax to the state in the context of slow auto sales indicates that cars are being sold at sky-high prices in Vietnam. The country would remain the only one with positive growth among five major economies in ASEAN, and its economic growth would rebound to 6.7% in 2021. Vietnam's gross domestic product advanced by 3.82 percent year-on-year in the first quarter of 2020, following a downwardly revised 6.79 percent growth in the previous period. Vietnam, however, remains the only country among major economies in ASEAN – 5 (Thailand, Malaysia, Indonesia, the Philippines, and Vietnam) expected to deliver positive growth this year. Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. GDP per Capita in Vietnam (or Viet Nam) (with a population of 94,600,648 people) was $1,853 in 2017, an increase of $100 from $1,753 in 2016; this represents a change of 5.7% in GDP … “The recovery is likely to be characterized by persistent social distancing until health risks are addressed—and countries may have to again tighten mitigation measures depending on the spread of the virus,” it said. Overall, ASEAN-5 economies are expected to contract by 3.4% in 2020 before expanding 6.2% in 2021. 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